The Aberdeen City Council Transport Fund has agreed a £230m buy-in with Rothesay in the insurer’s first deal with a Local Government Pension Scheme (LGPS) fund.
The transaction insures the payments for 1,360 pensioner members who worked with FirstGroup as part of the city's public transport provision, covering around 77% of total liabilities. As well as being...
The ICL Group Pension Plan has entered into a £3.7bn intermediated longevity swap via a Guernsey-based captive, with Swiss Re reinsuring the risk.
The Nortel Networks UK Pension Plan has agreed a further £105m buyout with Legal & General (L&G), topping up the benefits agreed in a prior deal.
There have now been more than 30 longevity swaps over £1bn publicly announced. The full list, provided by Willis Towers Watson and through PP research, is as follows...
The Association of British Insurers (ABI) Pension & Assurance Scheme has insured benefits for 191 members in a £26m buy-in with Aviva.
The defined benefit (DB) scheme of Shepherd Foods (London) has completed a £3m buyout with Aviva, insuring the benefits of 13 pensioner and deferred members.